Zacks: Analysts Expect Spire Inc. (NYSE:SR) Will Post Quarterly Sales of $725.57 Million

Equities research analysts predict that Spire Inc. (NYSE:SR) will report $725.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Spire’s earnings, with the highest sales estimate coming in at $730.11 million and the lowest estimate coming in at $721.03 million. Spire reported sales of $715.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The business is expected to issue its next earnings results on Friday, May 14th.

According to Zacks, analysts expect that Spire will report full year sales of $1.85 billion for the current year, with estimates ranging from $1.77 billion to $1.93 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.90 billion, with estimates ranging from $1.78 billion to $1.98 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Spire.

Spire (NYSE:SR) last released its quarterly earnings data on Thursday, February 4th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. Spire had a return on equity of 8.88% and a net margin of 4.76%. The business had revenue of $512.60 million during the quarter, compared to analysts’ expectations of $592.36 million. During the same quarter last year, the business posted $1.33 EPS. The business’s revenue was down 9.6% on a year-over-year basis.

Several brokerages recently commented on SR. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $69.00 price objective (down previously from $70.00) on shares of Spire in a report on Wednesday, March 10th. Guggenheim upgraded Spire from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, January 20th. TheStreet raised Spire from a “c+” rating to a “b” rating in a research note on Thursday, February 11th. Morgan Stanley boosted their price objective on Spire from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 25th. Finally, Credit Suisse Group cut their target price on Spire from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Spire has a consensus rating of “Buy” and a consensus price target of $72.40.

SR stock traded up $0.30 on Monday, reaching $75.04. 1,156 shares of the company traded hands, compared to its average volume of 363,076. Spire has a one year low of $50.58 and a one year high of $81.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.41 and a quick ratio of 0.28. The company has a market cap of $3.88 billion, a P/E ratio of 51.19, a price-to-earnings-growth ratio of 0.91 and a beta of 0.19. The firm has a fifty day simple moving average of $71.27 and a 200-day simple moving average of $63.42.

The company also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Shareholders of record on Thursday, March 11th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, March 10th. Spire’s payout ratio is 69.15%.

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Spire in the fourth quarter valued at about $30,000. Birchcreek Wealth Management LLC purchased a new position in shares of Spire in the 4th quarter valued at $38,000. Retirement Group LLC purchased a new stake in Spire during the 4th quarter worth $55,000. CI Investments Inc. increased its stake in Spire by 67.1% during the 4th quarter. CI Investments Inc. now owns 894 shares of the utilities provider’s stock worth $57,000 after buying an additional 359 shares during the period. Finally, Signaturefd LLC increased its stake in Spire by 63.9% during the 4th quarter. Signaturefd LLC now owns 1,034 shares of the utilities provider’s stock worth $66,000 after buying an additional 403 shares during the period. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Spire Company Profile

Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.

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